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  3. do both buyers and sellers lose in the monopolist

Do both buyers and sellers lose in the monopolist market compared to the competitive? Explain.

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Economics

Do both buyers and sellers lose in the monopolist marketcompared to the competitive?

Explain.

Answer & Explanation Solved by verified expert
4.2 Ratings (669 Votes)
We have a competitive market because there are many buyers and sellers of a homogeneous commodity Equilibrium is at a crossroads of supply and demand Houses enjoy buyer surplus at the equilibrium level of production provided by the marked area under the demand curve and above the    See Answer
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